Bharti Airtel plans to raise funds via debentures, bonds
New Delhi: India’s largest telecom operator Bharti Airtel on Thursday said it plans to raise funds through private placement of bonds and debentures.
“We hereby inform you that the Board of Directors of the company in its meeting to be held on January 24, 2017 shall interalia consider raising of funds through issue of debentures and bonds through private placement,” the company said in a BSE filing.
The company, however, did not disclose the quantum of funds that would be raised through the debt instruments. India, the world’s second largest mobile market, has a subscriber base of 801.81 million as of November 2016 and Bharti Airtel enjoys the largest marketshare of 32.84%.
During November, Bharti Airtel added 1.08 million additional subscribers, taking its total customer base to 263.35 million mobile subscribers. Vodafone, the second largest mobile operator in India market, has 202.79 million subscribers, followed by Idea Cellular at 187.68 million.